A group of lobster harvesters from the Magdalen Islands, in the Canadian province of Quebec, are now the seventh-largest lobster buyers in the region after acquiring a permit to purchase and ship live lobsters, reports Radio Canada.

The Cooperative des pecheurs des Iles-de-la-Madeleine, which has 30 members, acquired the assets of La Renaissance when that company went bankrupt in February 2023. The cooperative had planned to restart production at the company's processing plants in Grand-Entrée and Gros-Cap.

Initially the province's minister responsible for fisheries had refused to grant a lobster buying permit to the cooperative. But a study in 2024 that involved consultation with the industry, showed that fish harvesters in the province -- particularly those from the Magdalen Islands, were in favor of having new buyers, saying more players would stimulate competition.

Recall that earlier this year, Canada's minister of fisheries, Diane Lebouthillier, approved 25 exploratory licenses in Lobster Fishing Area 18 on Quebec's north shore, which includes the Gaspe' Peninsula, as reported by Undercurrent News.